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Capital Markets

Landmark Namibia debut Eurobond wins award

The debut sovereign Eurobond from the Republic of Namibia, with lead managers Barclays Capital, Absa Capital and Standard Bank, in 2011 perhaps best encapsulates the trend of sovereigns that were previously unknown to international markets now being able to grab investors’ attention

Meanwhile, in Africa, the main story was not just about new funding sources, but also the arrival of new issuers, as investors turned optimistic about the continent’s success. First-time benchmark-sized Eurobonds by African sovereigns became a stamp of approval for these countries’ economic prospects, and will encourage further capital flows. 

Republic of Namibia debut Eurobond
Size $500 million
Date October 27 2011
Lead managers Barclays Capital, Absa Capital and Standard Bank
Coupon 5.5%
Tenor 10 years
return to the Middle East & Africa Deals of the Year index

In January 2011, Nigeria was the first African sovereign to issue a benchmark debut issue with a 10-year $500 million deal. Senegal followed in May with a $500 million 10-year deal.

However, the debut sovereign Eurobond from the Republic of Namibia on October 27 perhaps best encapsulates the trend of sovereigns that were previously unknown to international markets now being able to grab investors’ attention.

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